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How to Launch a New Business When All You Have Is A Dime

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Seth Kniep on The Entrepreneurial You Podcast

Frustrated in his corporate job and struggling in his marriage, parenting and finances, Seth started with a single dime, with a dream that if he kept doubling it, he could leave his corporate job and create margin for him and his family. Today, Seth is a full time Amazon seller and is the founder of Just One Dime, a coaching company for Amazon FBA sellers. Seth has students in over 100 countries, was flown to Amazon’s headquarters to be consulted for improving Amazon’s third party platform, was asked by a company owned by a shark 

from Shark Tank to run their online Amazon and ecommerce division, run a sourcing team in China, and was requested by two countries to train their top businesses.

 

Show Notes

“Life’s too short to hang out with people who aren’t resourceful.” – Jeff Bezos

 

It is pivot season! Thanks to COVID-19. Perhaps you’ve turned to having a digital business and particularly an Amazon store. But how much do you know about how to do it really well?

 

This week, The Entrepreneurial You podcast invites Seth Kniep to share his wealth of knowledge on “How to Launch a New Business When All You Have Is A Dime.”

 

Here is a snippet of what  Seth shared:

 

“First you find a product that is solving a problem and you make sure that the top competitors for that product that are selling it at least five of them have fewer than 100 reviews, which means if someone with less than a hundred reviews is selling really well, then you can launch a new product and probably sell it very well. Also, then you make sure it’s selling at least 12 to 15 times a day. That’s a general rule profit is more important than how many times it sells but that always ways indicates if between 12 and 15 minimum indicates, very strong demand for a product you find that product you make sure there aren’t too many reviews as using the criteria I mentioned and then you start reading the critical reviews and you ask yourself a simple question when I look at all the critical reviews or I should say the top-ranking critical reviews for the top competitor What are the customer saying that they don’t like about this product?”

 

Listen to the episode and let us know what is your biggest takeaway.

 

Connect with Host and Creator, Heneka Watkis-Porter

 

 

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Looking for spiritual upliftment? Listen to My Daily Devotion. A very short devotional to get you closer to God. Listen on: 

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Dive into the latest episode of The Entrepreneurial You podcast, where we uncover the transformative power of mentorship and coaching with our esteemed guest, a seasoned entrepreneur whose early setbacks paved the way for enduring success.

**Learning from Setbacks: The Mentorship Advantage**

– Early Struggles: Our guest reflects on the initial challenges faced when starting alone and the realization that solo efforts led to regression rather than progression.

– The Mentorship Turning Point: Discover the pivotal moment when our guest embraced the need for guidance and how this decision became a cornerstone strategy throughout their entrepreneurial journey.

– Navigating Transitions: Learn how seeking out mentors and coaches with each new venture or career shift can safeguard against significant pitfalls and foster triumphs.

– The Role of Mentorship in Success: Gain insights into how the right mentor or coach can accelerate your path to success and help you avoid the missteps that can hold you back.

Connect with today’s guest and find a mentor who can help steer your entrepreneurial ship towards success.

Closing Thoughts:
Thanks to our guest for sharing their journey and mentorship’s invaluable role in their achievements. To our listeners, remember that you don’t have to go it alone; mentors can be your compass to success.

Stay tuned for more episodes of The Entrepreneurial You and embrace the collective wisdom that can drive your business forward.

Affirmation:
I seek wisdom and guidance, harnessing the collective experience to fuel my entrepreneurial ascent.

For more information and resources from today’s episode, visit our website at henekawatkisporter.com. Engage with us on social media; we’re active on Heneka Watkis-Porter.

Remember: Stay engaged, stay entrepreneurial!

Picture of Author: Heneka Watkis-Porter
Author: Heneka Watkis-Porter

When I'm not podcasting, speaking, coaching or hosting first-class conferences (think Leadercast & She Leads co-founded with the Jamaica Stock Exchange), I'm passionate about helping women thrive and walk in their God-given purpose through Grace to Grow Mentorship and Training.

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